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Stock Market Crash! (merged) Pt. 6

Discussions about the economic and financial ramifications of PEAK OIL

Re: Stock Market Crash! (merged) Pt. 6

Unread postby Armageddon » Sun 19 May 2019, 14:24:31

onlooker wrote:


Fiat systems don’t work. Gold back systems are the only ones that have a chance to endure. Fiat has to be backed by something, otherwise governments will print it until inflation collapses the entire system. Sound familiar?

The economic gurus knew this back then which is why they made sure they had the Petrodollar in place when they went off the gold standard. But, that ploy has run its course and is useless against the ravages of falling Net energy



It would collapse without falling energy supplies. Now add in we are past peak oil, and you know this isn’t go to end well.
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Re: Stock Market Crash! (merged) Pt. 6

Unread postby radon1 » Sun 19 May 2019, 15:16:29

Armageddon wrote:Fiat systems don’t work. Gold back systems are the only ones that have a chance to endure. Fiat has to be backed by something, otherwise governments will print it until inflation collapses the entire system. Sound familiar?


Money have always been fiat regardless of what they were made from. Golden coins were fiat money. As discussed already, they were backed initially by tax collection stock, and later by people's imagination on top of it. Possibly by the "gold standard" fairy tales including.

The world's major Central Banks have been printing money to infinity for over decade now, and they fail to generate meaningful inflation even though this is their ultimate goal. But they are not governments. Central bank independence and "money backed by something" are two different things.
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Re: Stock Market Crash! (merged) Pt. 6

Unread postby Armageddon » Mon 20 May 2019, 07:54:18

radon1 wrote:
Armageddon wrote:Fiat systems don’t work. Gold back systems are the only ones that have a chance to endure. Fiat has to be backed by something, otherwise governments will print it until inflation collapses the entire system. Sound familiar?


Money have always been fiat regardless of what they were made from. Golden coins were fiat money. As discussed already, they were backed initially by tax collection stock, and later by people's imagination on top of it. Possibly by the "gold standard" fairy tales including.

The world's major Central Banks have been printing money to infinity for over decade now, and they fail to generate meaningful inflation even though this is their ultimate goal. But they are not governments. Central bank independence and "money backed by something" are two different things.




Inflation is everywhere. When you don’t include housing, healthcare and energy, it doesn’t look as bad.
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Re: Stock Market Crash! (merged) Pt. 6

Unread postby shortonoil » Mon 20 May 2019, 08:38:58

"All paper currency reverts to its intrinsic value: zero!" Voltaire

Precious metal have served as a means of exchange for over 7,000 years, and have never become absolutely worthless; unlike what has occurred to over 3,000 fiat currencies through out time. Gold has remained the most enduring of any currency that has ever been used. It was only the recent activity of some rather shady characters that forced/ coerced people to value gold in terms of dollars, rather than the other way around. If the entire 9,000 year history of modern man is any indication that situation will not last.
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Re: Stock Market Crash! (merged) Pt. 6

Unread postby Armageddon » Mon 20 May 2019, 12:06:57

Chicago Fed National Activity Index Plunges To 3-Year Lows

Took a dump
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Re: Stock Market Crash! (merged) Pt. 6

Unread postby onlooker » Mon 20 May 2019, 12:11:13

When the entire economic system goes belly up because of a shortfall of net energy or some other preemptive way, the paper money naturally will become worthless as no credit/banking system will exist to support this type of exchange. Also because the Economies will be so anemic that all entities will seek things of the true value in these Depressed economies. So the Voltaire quote will be most prescient at that point. People will lose all faith in paper/digital money and have no use for it
"We are mortal beings doomed to die
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Re: Stock Market Crash! (merged) Pt. 6

Unread postby asg70 » Mon 20 May 2019, 17:16:59

Armageddon wrote:we are past peak oil


Image
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Re: Stock Market Crash! (merged) Pt. 6

Unread postby Outcast_Searcher » Mon 20 May 2019, 18:42:31

Armageddon wrote:Inflation is everywhere. When you don’t include housing, healthcare and energy, it doesn’t look as bad.

No, inflation is NOT everywhere. What part of electronics, such as computers, is inflationary?

In fact, given how large a proportion of MANY products we use are increasingly electronic "smarts",
the deflationary effect of electronics prices (when you factor in the amount of computing that gets done per unit cost) might well help explain the relatively low ongoing overall inflation for the past 35ish years.

With inflation roughly 2% over the past decade, despite the doomers screaming "hyperinflation from Q.E." from 2009 on, when you say "inflation is everywhere", what does that really mean?

Is there any point at which when doomers are constantly wrong, re economic predictions, they actually ADMIT they've been constantly wrong?

Or if economic predictions are "too hard", how about the endless wrong predictions re running out of resources?
Given the track record of the perma-doomer blogs, I wouldn't bet a fast crash doomer's money on their predictions.
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Re: Stock Market Crash! (merged) Pt. 6

Unread postby Armageddon » Mon 20 May 2019, 18:56:56

They also hide inflation by making things smaller. You don’t realize you are paying the same price for something 30% smaller.


The three stooges (there might be 4 now. I guess they recruited Shemp to join in) don’t believe there’s inflation. You’d have to either be a shill or a complete moron to think there’s no inflation.
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Re: Stock Market Crash! (merged) Pt. 6

Unread postby Cog » Mon 20 May 2019, 23:57:27

Point to this inflation if you believe it's so obvious.
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Re: Stock Market Crash! (merged) Pt. 6

Unread postby Armageddon » Tue 21 May 2019, 10:02:15

Existing Home Sales Tumble YoY For 14th Month - Worst Run Since Housing Crisis

Ouch
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Re: Stock Market Crash! (merged) Pt. 6

Unread postby shortonoil » Tue 21 May 2019, 12:30:22

You’d have to either be a shill or a complete moron to think there’s no inflation.


How can there be any inflation? The CBs have only injected an additional $20 trillion, or so. That is only 37% of the world's monetary base. When it gets to 200% then you will see some inflation. My favorite 16oz can of coffee has only shrunk to 12 oz, and the price didn't increase a bit. Plus the economy is booming, Ford only fired 10% of its world wide workforce. World trade? That's only a blimp in the numbers! San Diego’s long shore men will stay busy shipping back China's Panda. Ever try to build a crate for a Panda? They could be busy for YEARS.

Next year there won't be any inflation at all! BLS is only going to include Moon Shine and buggy whips. The year after that they will get rid of the Moon Shine. There is not going to be any inflation for anyone; ever again. Anyone who doesn't eat, live in house, drive a car, or sees a doctor is not going to see any inflation. Inflation is one of those old antiquated relics; like gold. Gone, gone, gone.
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Re: Stock Market Crash! (merged) Pt. 6

Unread postby Armageddon » Tue 21 May 2019, 15:30:37

Auto industry cutting jobs at the fastest pace since the financial crisis

https://www.marketwatch.com/story/auto- ... 2019-05-21


What’s coming is going to make 2008 look like a trip to Disney World.
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Re: Stock Market Crash! (merged) Pt. 6

Unread postby shortonoil » Tue 21 May 2019, 16:21:49

Nordstrom Crashes To 8 Year Lows After Slashing Guidance

@Armageddon

Do you think the Retail Apocalypse will force the FED to cut rates this year? Is the market already pricing it in?

https://www.zerohedge.com/news/2019-05- ... g-guidance
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Re: Stock Market Crash! (merged) Pt. 6

Unread postby Armageddon » Tue 21 May 2019, 16:26:29

shortonoil wrote:Nordstrom Crashes To 8 Year Lows After Slashing Guidance

@Armageddon

Do you think the Retail Apocalypse will force the FED to cut rates this year? Is the market already pricing it in?

https://www.zerohedge.com/news/2019-05- ... g-guidance




Without a doubt rates will be cut this year.
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Re: Stock Market Crash! (merged) Pt. 6

Unread postby Cog » Tue 21 May 2019, 17:43:45

LOL Or so you hope. Otherwise a three month ban from posting. Tick tock.
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Re: Stock Market Crash! (merged) Pt. 6

Unread postby Armageddon » Tue 21 May 2019, 18:51:49

Cog wrote:LOL Or so you hope. Otherwise a three month ban from posting. Tick tock.




I hate to see you go for 3 months. I was looking forward to your responses when it starts hitting the fan.
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Re: Stock Market Crash! (merged) Pt. 6

Unread postby Cog » Wed 22 May 2019, 04:46:07

I was told by economic doomer experts that a all out trade war with China would crash the US stock markets. Half believed it would do so myself. But yet here we are with barely a ripple in the water. The economy is much stronger than even I gave it credit for. The stock market current highs reflect that.

I expect the Fed to raise rates this summer to early fall.
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Re: Stock Market Crash! (merged) Pt. 6

Unread postby shortonoil » Wed 22 May 2019, 10:07:02

I was looking forward to your responses when it starts hitting the fan.


That shouldn't be long. With the world's banking system ready to follow Duetsche Bank down the drain, the US attempting to fight half a dozen wars while taking on China, and the Hong Kong Banks, which are China's route to the world financial system, leveraged out 1000:1 the mess is soon going to be pandemonium. Every thing from aircraft to semi conductor production is collapsing in a heap, and it looks like time has run out for the World's greatest dog and pony show; Globalization. Europe wouldn't be able to save itself after the UK takes a hike, and Post Peak will result in credit taking a dump on the CBs front desk.

The hope sprung scenario of a gradual unwind is fast becoming another JP Morgan, Goldman fairy tale. Finding a turkey that hasn't already been plunked by Thanksgiving will only be one more problem. That smell of gun powder in the air is the fuse on the world's largest ever debt bomb burning. Have a nice warm summer in the sun, it is going to be a long cold winter!
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Re: Stock Market Crash! (merged) Pt. 6

Unread postby StarvingLion » Wed 22 May 2019, 11:11:52

EOG: Totally Collapsing
XOM: Totally Collapsing
TSLA: Below 200, headed to $0
CNX: Totally Collapsing
BA: Desperately propped up, headed for total collapse
INTC: Totally Collapsing, Cliff Diving from $60 to $44 in JUST 1 MONTH

I guess the peasants can only afford small pixel displays to send pictures of their dogs.

EV: Not affordable
PC: Not affordable

By 2025:

Food: Not affordable
Power Station Electricity: Not affordable

Today I paid $50 for a tiny bottle of antibiotic ear drops. Last week I paid $1000 for eye glasses.

Diagnosis: The Oil Apocalypse is right on schedule. You'all be dead by 2026.
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